All of these States legalizing it.. How do they get around it is still illegal on the federal scale? The businesses must have to jump through hoops to report the income federally. Actually can they report it? It's illegal income federally.

More importantly sports gambling

Windy's evening zima nightcaps just got a bit more interesting.

---

Long Chile was a silly place.

Dude I gamble sober

Where's the fun in that?

---

Long Chile was a silly place.

Winning

It's all about the $$$$$$...


The US government has guidelines for banks to provide services to cannabis companies, but “99% of banks don’t want to mess with them [because] there’s a lot of internal compliance if you’re going to serve the cannabis industry,” says Jim Marty of Bridge West CPAs, a Colorado accounting firm that represents roughly 250 cannabis businesses and license holders nationwide. This means customers pay in cash, their employees are paid in cash, and their taxes are paid in cash."

---

"The great pleasure in life is doing what people say you cannot do."

I don't know dude..Idaho is a "pot free island" and it's not generating that much pressure on the state gov. Essentially Idaho just needs a bunch of older white religious folks to turn over. Until then the state seems happy losing a ton of revenue to Oregon and Washington (and soon other border states where medical is already acceptable).

Law enforcement in my neck of the Idaho woods will tell you they just don't enforce possession laws (to an extent I would assume) so hopefully there is a corresponding decrease in cost when it comes enforcing cannabis as a schedule 1 however there is still a great deal of revenue being left on the ID table (you're welcome OR and WA).

https://www.spokesman.com/...ins-pot-free-island/

But when will the feds cry uncle?

---

Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.

Ah yes, otherwise known as the ‘Pablo Escobar Operating Plan’. I wonder if they’re burying cash in fields? Good thing pot smokers are too high to rob the place.

I think the feds get on board when the big players, likely Pharma and Tobacco have their plans in place to make the real money off pot.

Actually can they report it? It's illegal income federally. //

Its only illegal if you dont pay the taxes, that's what gets people in trouble with the feds, usually. In todays climate, I would have a guess as to what Trump is going to do, if anything..

My brother in law works for the DEA. I am really interested in what he has to say about it esp since they are trying the legalize here in NY.

First, when a state "legalizes" cannabis, it does not make it legal. The correct term is "decriminalize." That is means is state and local law enforcement will not arrest and state and local prosecutors will not prosecute. It remains an illegal substance and the feds are free to enforce federal laws with regarding to decriminalized cannabis.

Second, the tax code is funny. IRS Code 280E states: “Marijuana businesses are required to file federal income tax returns.” However, cannabis companies are significantly limited in taking deductions, because their business “consists of trafficking in controlled substances … which is prohibited by federal law or the law of any state in which such trade or business is conducted.”

This kinda makes sense, when you think about. Income that is even earned illegally is still taxable income. They got Capone on that one.

But, the banking regulations are so strict most banks will not touch cannabis money for fear they are charged with trafficking illegal funds.

---

If there are no dogs in Heaven, then when I die I want to go where they went. - Will Rogers

Emery's Third Coast Triathlon | Tri Wisconsin Triathlon Team | Push Endurance | GLWR

Thanks!

I go back and forth on weather or not I will partake if it ever becomes decriminalized here in NY. Dont think I could smoke it so I would have to go the edible route if I ever wanted to try. I dunno.. I think I would prob just stick with beer though.

Try a vape pen. They work great and you get no smoke.

---

===============
Proud member of the MSF (Maple Syrup Mafia)

It’s legal here. I have no interest.

I don’t get that mentality at all. “Oh it’s legal, I’ve never done it but now I want to try it”.

Meh. Who cares?

---

How does Danny Hart sit down with balls that big?

Straight cash, homey......

It's an all cash business. I have a friend in commercial real estate who has done a bunch of deals for dispensaries here in MD. He tells me they show up to close with cases of cash. I've also bid on work to build out some and so have seen prints for them. They all have giant walk in vaults.